The pilot stated that as part of his preflight inspection of the airplane he visually verified each fuel tank was full, and the total usable fuel capacity was 221 gallons. After takeoff, the airplane climbed to the flight planned altitude of 8,000 ft mean sea level (msl), and proceeded towards the destination airport. When the flight was near the planned refueling location of the Rockwood Municipal Airport, Rockwood, Tennessee, the pilot verified that the airplane had an adequate supply of fuel to reach the intended destination. While in contact with HSV air traffic control tower, he requested to descend to 6,000 ft msl, and was subsequently cleared to descend to 4,000 ft msl. At that time, the pilot noted HSV was to his left about 10 miles away. Shortly thereafter, while at an altitude about 3,500 ft msl, warning lights on the annunciator panel, which included a fuel pressure light, illuminated. The pilot declared an emergency with the controller, and the engine experienced a total loss of engine power. According to a Federal Aviation Administration inspector, the controller vectored the pilot to Epps Airpark (00AL), a private airport located in Harvest, Alabama, but the pilot was unable to locate it.